Here is why Tesla stock keep going higher

Tesla (TSLA) stocks have been going up a lot for the past few days, it was just at around $500 before Tesla reported a record earnings result and the stock will not stop going up since then. It's now trading at $780 and it's time to examine what’s going on. 

In under a month, the stock was up more than $280 per share and a lot of investors are happy about this. However, Tesla short-sellers are scrambling to cover their shorts as they continue to lose money at a very fast rate. 

Why is Tesla Stock trading higher? 

·       Analysts at Argus Research raised its price target for Tesla from $556 to $808

·       Also, ARK Investment Management updating its valuation model to reflect Tesla’s massive upside potential: The firm believes that the stock could be worth $7,000 per share—and up to $15,000 in the best case—by 2024.

·       Tesla beat its earnings last week, reporting its second consecutive  quarter of profitability and promising investors that it should continue to be profitable going forward (it is yet to be so on an annual basis).